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Austrian Hotel Investment Market: Transaction volume slightly positive

Vienna. 2012 ended with a brilliant result for the Austrian hotel investment market, also owing to some major transactions such the Uniqa Portfolio. The positive development continued into the first half of 2013. In the first six months, hotel properties with a total value of approximately 135 million Euros changed owners in Austria. Thus, the previous year’s transaction volume was slightly exceeded.



In the first two quarters of 2013, the hotel investment market was characterized by a number of large individual transactions. No portfolios were on the market in that period. “As usual, Vienna was top in terms of transactions, this is already a no-brainer“ underlined Lukas Hochedlinger, managing director of Christie + Co Austria.



Hochedlinger gave the example of Austria Trend Hotel beim Theresianum (116 rooms), which, at the beginning of the year, was sold by conwert to a Russian investor. Christie+Co advised the owner in the sale. Also at the beginning of the year, the remaining shares held in the Motel One hotel under construction in the 1

Motel One. Sometime later, Immovate was involved in a consortium, together with BIGsubsidiary ARE, as the buyer of the MGallery hotel near the Vienna concert house (211 rooms), which was sold by a Unicredit Bank subsidiary. The largest individual transaction of the first halfyear 2013 was the sale of an international hotel with more than 300 rooms in Vienna which was purchased by an international private equity fund.


But the market was also very much alive outside the capital: The Artis Hotel Semmering (95 rooms) was sold to an Austrian-Ukrainian group led by Thomas Schellenbacher and Igor Palytsia. One of the largest resort hotels in Austria with approximately 200 rooms, just one hour from Salzburg, also changed ownership. The buyer was a private Dutch investor. In both cases, Christie+Co had the sales mandate on behalf of the owners.




Selected hotel transactions in Austria in the first half-year 2013


Source: Christie + Co Research



Buyers were mostly private individuals, financially sound funds or smaller real estate companies. “Interested parties with no adequate equity capital continue having a hard time, even in boomtown Vienna“, says Lukas Hochedlinger.



Currently, some major hotel transactions are in their final stages. “More large-scale hotels will come on the market during the year“, knows Hochedlinger. “Depending on how quickly the transactions will be completed, we will know very soon whether a level comparable to 2012 will be reached by the end of the year.“



Press contact

Sandra Pechac BA
Marketing Manager
Christie + Co Austria GmbH

T: +43 (0) 1 / 890 53 57 - 0
F +43 (0) 1 / 890 53 57 - 15
E: presse@christie.com



Christie + Co was established in London in 1935 and is the number one hotel real estate company in Europe. The company also provides advice to clients in the hospitality, leisure, care and retail sectors and offers competent advisory and valuation services. Christie + Co employs more than 280 experts who, in addition to their knowledge of regional and transregional markets, have a broad know-how of current market trends and specific local conditions. The company has 25 offices worldwide. Please see www.christiecorporate.com for more information.

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